abc learning interim net profit up 62 percent, page-46

Reading back on all this, it does make a holder a bit nervous. But the question I have is - is ABC's auditor's Ernst and Young completely oblivious to this happening? They have to sign a little statement saying "The accounts are a true and accurate reflection of the company" or something like that.

If reputable analysts have already raised questions about this aggressive accounting issue and E&Y does not pick it up, or just lets it slip, and ABC becomes another large corporate collapse then their reputation will take a hit. It stands to reason that they would have picked up this accounting irregularity if it existed, would it not?